Bans political action committees (PACs) from contributing to a Federal campaign, and restricts contributions from PACs if the ban is not in place.

Prohibits a national committee of a political party from soliciting or receiving soft money contributions for federal elections.

Requires all forms of political advertising to include the following statement: "XXXXX is responsible for the content of this advertisement," with the blank to be filled in by the person or committee paying for the advertisement.

Prohibits a member of Congress from sending out franked mail during a year in which he or she is running for an election.

Requires 60 percent of campaign contributions to come from a candidate's own state or district.

Limits personal candidate spending to $250,000 in an election cycle.

Excludes contributions made by a political committee of a political party and contributions by individuals significant in the candidate's campaign from counting as an “independent expenditure.”

Note:

NOTE: INVOKING CLOTURE REQUIRES A 3/5 MAJORITY OF THE SENATE. IT IS NOT A VOTE ON THE PASSAGE OF THE PIECE OF LEGISLATION, BUT LIMITS FURTHER DEBATE TO 30 HOURS. CLOTURE IS TYPICALLY USED TO END A FILIBUSTER. A FAILED CLOTURE VOTE OFTEN PREVENTS THE LEGISLATION FROM EVER COMING TO A VOTE.